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Integrity is a prerequisite of a successful brand, the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said this (August 27) afternoon, noting that it is of paramount importance for enterprises to serve their customers with sincerity and take up corporate social responsibility.
Speaking at the presentation ceremony of the "Prime Awards for Brand Excellence 2009", Mr Cheung said, "The urge to strive for excellence makes a successful brand. Whilst striving for excellence in their products and services, the enterprises also shoulder corporate social responsibility.
"In making important commercial decisions, the enterprises should take into consideration the impact of these decisions on the community, the economy and the environment, and also the implications on their major partners, including consumers, shareholders, suppliers, the underprivileged and, in particular, their staff."
Mr Cheung said that behind each successful brand is always a team of dedicated staff.
"A good brand always has advantages in recruitment and retention of talent. Most of us want to work for good brands and are proud to be part of them because brand names represent the reputation and status of the enterprises as well as the quality and value of their products or services.
"In this connection, a good brand may motivate our workforce to upgrade themselves and therefore has a positive effect on raising the quality of the workforce," he said.
The world is competing in brand building in the light of globalisation in the 21st century and Hong Kong has its unique advantages, Mr Cheung noted.
"The soul of brand-making lies in creativity. With its East-meets-West culture, a collection of world brand names, a large pool of creative talent and proximity to a huge market on the Mainland, Hong Kong enjoys a solid foundation for brand building. In fact, the creative industry is among the six economic pillars with potential which we are exploring for further development right now," he said.
He said not only have local brand names become an important indicator of the strength of an economy, they could also help ease the external impact on the local economy.
"In the past year, the financial tsunami has affected almost all sectors of our economy. The enterprises affected most are those engaged in original equipment manufacturing (OEM) and original design manufacturing (ODM) for enterprises in Europe and America, where the crisis originated.
"In this regard, developing own brand manufacturing (OBM) for direct marketing would enable enterprises to retain production processes with the highest value added locally and help reduce the external impact and avoid massive layoffs as well. When the economy recovers, local brands may also generate greater profit," he said.
Mr Cheung said he hoped that more and more local brands would be created to contribute towards the success of Hong Kong's economy.
Ends/Thursday, August 27, 2009
Issued at HKT 17:30
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